Is CSX’s Comeback Spiked?

Our bullish turnaround trade has now become riskier than anticipated.

By

Steven M Sears

Oct. 26, 2017 12:07 p.m. ET

The CSX turnaround trade just got complicated.

CSX (ticker: CSX) stock sold off sharply early Thursday on unexpected news that a much-anticipated investor day meeting would be delayed, and that a new chief operating officer had been hired to work with the ailing chief executive. The company tried to assuage investors by also announcing that it was doubling a $1.5 billion stock-buyback program.